The multi-family market is hot right now making it harder to find good deals. Finding a way to charge above market rents is one strategy that allows us to buy properties at market and still get the returns we are looking for.

There are various strategies for achieving this, but a relatively new one that has come to my attention is renting out properties on a short-term basis via AirBnB. This week Nav Athwal joins me to discuss this strategy and some things you need to think about before implementing it.

Key Takeaways

[4:43] AirBnB and how most hosts utilize the platform

Hosts rent out rooms and/or entire personal homes

[7:31] Alternative ways to use the platform

Buying properties for the exclusive purpose of renting through AirBnB

Renting out empty properties through AirBnB while you are unable or unwilling to use them for another purpose

[10:15] Where the short term rental strategy can work

Look for cities where AirBnB is already very active

Look for cities with favorable regulations toward short term rentals

[11:42] Scalability of this strategy

Not completely proven

Services like Pillow offer on demand concierge and property management

[13:46] Regulatory Uncertainty

Some cities are limiting short term rentals while others are outlawing them completely.

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